NextDecade (NASDAQ:NEXT) Rating Lowered to Strong Sell at Wall Street Zen

NextDecade (NASDAQ:NEXT) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently issued reports on the company. The Goldman Sachs Group initiated coverage on NextDecade in a report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextDecade in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.10.

NextDecade Price Performance

NASDAQ NEXT opened at $6.29 on Friday. NextDecade has a 1-year low of $4.75 and a 1-year high of $9.24. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -4.62 and a beta of 1.53. The stock’s 50 day moving average is $6.88 and its two-hundred day moving average is $7.39. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 3.70.

NextDecade (NASDAQ:NEXT) last posted its earnings results on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.41. Equities analysts forecast that NextDecade will post -2.10 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NextDecade

Large investors have recently bought and sold shares of the company. Clough Capital Partners L P bought a new position in shares of NextDecade during the first quarter worth $2,702,000. Wolf Hill Capital Management LP bought a new stake in shares of NextDecade in the 2nd quarter valued at $2,826,716. BlackRock Inc. bought a new stake in shares of NextDecade in the 2nd quarter valued at $179,608,000. Bank of America Corp DE bought a new stake in shares of NextDecade in the 2nd quarter valued at $14,415,000. Finally, Bank of New York Mellon Corp acquired a new stake in NextDecade during the 2nd quarter worth $3,613,000. Institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

NextDecade Corporation is an energy company focused on developing liquefied natural gas (LNG) infrastructure and related carbon-management solutions. The company’s principal project is Rio Grande LNG, an LNG export facility located near Brownsville, Texas, on the U.S. Gulf Coast.

Rio Grande LNG is designed to receive natural gas, process it into LNG, and export the product by ship to customers in international markets. The project is being developed in multiple phases and is intended to serve energy markets in Europe, Asia and other regions seeking access to U.S.